Growing Talent to Turbocharge Strategy: What CEOs Can Do

The following bullet points summarize the discussion held on this topic during this CEO Solution Exchange at the 2015 CEO Talent Summit in Dallas, TX, Sept. 30-Oct. 1, 2015:

CEOs should be systematic about their own development to lead a learning organization where people own their functional areas and expertise to drive innovation and growth.

CEOs need to learn to relax. Typically, CEOs are taking in vast quantities of information. Information is more easily synthesized when you connect with your physical body.

CEOs need to connect their talent strategy to their vision strategy for the company. Identify goals for additive growth and/or transformative growth then determine what talent you’ll need to get you there.

“The more uninterrupted creative thinking time CEOs have, the better decisions they will make.”

Delegate for development. Learn to delegate assigments with an intention to develop talent. Be willing to allow your talent the freedom to fail and provide them with support.

Allocate more time to talent management. Data indicates CEOs only spend about 10% of their time on talent management.

Bring a developmental component to your one-on-one interactions with talent. A good start is asking questions that broaden their context. Also, give them responsibility for their own development.

As CEO you need uninterrupted time blocks on your calendar so you can slow down and think. Start with a 1/2 hour to re-set and re-calibrate. Nothing else should get on your calendar during this time. Put support around you to protect that time. The more creative thinking time you have, the better decisions you will make.

Understand where your time is going. Take a pad of paper and track it. Change your daily activities to be proactive rather than reactive to other people’s agenda’s.

Engage as a leader in continual learning to set the pace for the organization. Schedule time for yourself to invest and grow.

Resist the temptation to answer questions for your talent; instead turn things around with questions that give them the ability to develop their own capabilities.

Make a priority of long-term initiatives versus short term activities.

Learn to let go of things that someone else can do. They may not do it as well, but it should be good enough so you can use the time you gain back on higher priorities.

Rather than focus on “HOW” you should spend your time, focus on “WHO” you spend your time with. Who you are speaking with should shape the way you prioritize your time.

Teach your organization decision making. Learn to delegate decision making. Develop a criteria for it and what goes behind it.

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.